Bitcoin Flash Crash on Lyra: Typographical Error Suspected

Bitcoin experienced a sudden flash crash on the decentralized exchange Lyra, dropping below $48,000. According to NS3.AI, the crash was triggered by a large sell order that exceeded the available buy-side liquidity. It is suspected that a typographical error led to a limit sell order being placed at $47,511 instead of the intended $67,511. The price quickly rebounded, and traces of the crash have been removed from the exchange’s charts.